My company Excelan went public on Feb 28, 1987, exactly 33 years ago today. Stock was priced at $12/share and closed at about 15 at the close of day. It valued the company at about $150 million. You can easily multiply that by a factor of five to reach today’s dollars.
Company had done $22 million in revenue and $3 million in profit in 1986 and had grown 120% YoY.
Stock moved up to 18 before the market crash of October 1987. Stock market lost almost 70% in very rapid order. Our price was cut down to six. Market recovered nicely in 1988. 1987 was a good year for us we did $39 million and made $5 million in profit.
Excelan was a pioneer in computer networking. We were first to supply TCP/IP on Ethernet to connect disparate computers. They eventually became the backbone of Internet.
Excelan was eventually acquired by Novell in the summer of 1989.